Accounts Payable and Accrued Expenses (Tables)

9 Months Ended

Sep. 30, 2024

Payables and Accruals [Abstract]

Schedule of Accounts Payable and Accrued Expenses

The Company’s accounts payable and accrued expenses consist of the following for the periods presented:

	September 30, 2024		December 31, 2023
Accounts payable	$	9,221,754	$	2,295,575
Accrued legal and accounting fees (1)		7,399,125		200,641
Incentive compensation		5,031,471		1,925,191
Other		893,115		953,087
Accounts payable and accrued expenses	$	22,545,465	$	5,374,494

⁽¹⁾ As discussed in Note 2 – Acquisitions and Merger and Note 8 – Debt, the Company closed the NRO Acquisition on October 1, 2024 and funded a portion of the transaction through the issuance of equity and debt securities. The increase in accounts payable and accrued legal and accounting fees from December 31, 2023 is driven by the cumulative costs incurred relating to these transactions.